Government agency Enterprise Singapore champions enterprise development and supports the growth of Singapore as a global hub for trading and startups. Every year, they organize a series of open innovation challenges to help catalyze innovation partnerships between corporates and innovative companies.
In collaboration with Agorize, EnterpriseSG organized the Sustainability Open Innovation Challenge (SOIC). This innovation program aims to identify new partnership opportunities that help solve some of the most pressing challenges we face today when it comes to sustainability, decarbonization and circular economies.
Corporate partners and organizations including Volkswagen, L’Oréal, Grab, P&G, ExxonMobil and Changi Airport Group as well as WWF and Alliance to End Plastic Waste joined SOIC to crowdsource solutions from startups and SMEs.
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Agorize is the most comprehensive innovation management platform, supported by a team of experts and community of innovators. For over a decade, we’ve been providing technology powered by a community of 5 million innovators to foster change and accelerate innovation. Our clients and partners worldwide crowdsource, evaluate and develop solutions from startups, employees, developers and students using Agorize.
We’ve helped over 300 global enterprise companies in Europe, North America, and Asia Pacific, including Enterprise Singapore, Huawei, Microsoft, LVMH, PepsiCo, Bayer, Schneider Electric, Hitachi, L’Oréal and many more by running their innovation programs.
An innovation challenge, or innovation competition, is a competition organized by a company to bring forward innovative solutions. The organizer defines clear objectives and problem statements, after which innovators are invited to submit their ideas and solutions. Proposals can come from startups, employees, students or other talent that is relevant to the topic at hand. Through a process of crowdsourcing and assessing ideas, mentoring participants and developing solutions, the organization will identify the winning proposals that will be implemented. More than 300 enterprise companies have organized innovation challenges with Agorize.
Their results speak for themselves. They’ve reduced go-to-market time with internal teams, fast-tracked the development of niche solutions with the products and services of startups, created long-term strategic partnerships and brainstormed future-proof ideas with students from top universities. Overall, it accelerated their own transformation and made themselves more future-proof.